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Throughout the episode, Nancy and Bunmi emphasize the importance of laying a solid foundation for any business venture. They discuss how proper business structuring and legal compliance are vital for long-term success. Using vivid analogies, Nancy explains how starting a business is akin to deciding to have a child—it requires preparedness, passion, and continuous care. She also likens business growth to developing a baby, explaining the importance of trademarks, managing early profitability expectations, and the need for a long-term exit strategy.
Nancy stresses the value of entrepreneurial education, mentorship, and the guidance of coaches and advisers, drawing parallels with having a sports coach or a music teacher. Nancy and Bunmi agree that strategic planning
Tune in to hear more about starting and building your business with simple, effective steps. Don’t miss Nancy’s sneak preview of her forthcoming book, which promises to be a valuable resource for aspiring entrepreneurs.
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Key Moments:
06:56 Solid foundation is crucial for long-term success.
10:46 Nurture business like growing a plant patiently.
14:00 Seek guidance for personal and professional growth.
21:27 Friends and family may not fully support.
23:26 Planning for long-term business success and assets.
26:39 Retire with enough money or face trouble.
About the Guest :
Originally from Canada, Nancy Steidl has lived in the UK for the past 25 years. As an International Business Consultant helping structure businesses and an Intellectual Property Law Specialist, her focus on AI and Big Data brings together the best of legal expertise and practical business insights. What sets her apart is her ability to break down complex legal concepts into simple, actionable strategies that resonate with businesses of all sizes.
Education has always been a driving force in Nancy’s career. She completed her Master’s Degree in International Business Law at the City University of London and an MBA from the International Business Management Institute in Berlin. She continues to expand her knowledge through ongoing studies, including courses at WIPO Academy and her current pursuit of a third Master’s Degree in International Intellectual Property Law at the University of London.
In addition to her professional endeavors, Nancy has an exciting personal project in the works.
She is writing a book set to be released in December 2024, now available for preorder on her website, www.thebusinessmission.com. This journey of crafting a book has been immensely fulfilling for her, and she eagerly anticipates sharing it with everyone. To stay updated and connect with Nancy, you can follow her author page on Facebook at https://www.facebook.com/NancySteidlAuthor/.
To connect with Nancy across all her platforms, viewers can visit her Linktree at linktr.ee/thebusinessmission.com.